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FATCATS charged with Fraud

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Anonymous

Guest
Nice to see the SEC finally back to work after there 8 year vacation..

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News Alert: Politically connected Wyly brothers charged with fraud

06:18 PM EDT Thursday, July 29, 2010
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The SEC has charged Samuel Wyly and Charles Wyly -- billionaire brothers in Texas who have been major political donors to conservative campaigns -- with reaping more than $550 million through fraudulent practices. The Wylys violated federal securities laws by using offshore accounts to secretly trade the shares of public companies whose boards they sat on, the SEC alleged.
 

hypocritexposer

Well-known member
Maybe you missed the story about Hassan Nemazee

NEW YORK (AP) — A wealthy Manhattan investment banker and former top Democratic fundraiser was sentenced Thursday to 12 years in prison for defrauding banks of $292 million, some of which he donated to politicians including Barack Obama, Hillary Rodham Clinton and Al Gore.

Nemazee was the national finance chairman of Clinton's 2008 presidential campaign; he also raised money for Obama and a long list of other prominent Democrats. He was Sen. John Kerry's New York finance chairman during his failed 2004 presidential run.
 

Faster horses

Well-known member
And this one:

WASHINGTON – New York Democrat Charles Rangel made a last-minute effort Tuesday to settle his ethics case and prevent a House trial that could embarrass him and damage the Democratic Party.

The talks between Rangel's lawyer and the House ethics committee's nonpartisan attorneys were confirmed by ethics Chairman Zoe Lofgren, D-Calif. Lofgren said she is not involved in the talks, and added that the committee's lawmakers have always accepted the professional staff's recommendations in previous plea bargains.

Rangel, a 40-year House veteran who is 80 years old, would have to admit to multiple, substantial ethics violations for any plea bargain to be accepted. Earlier negotiations broke down when Rangel would only admit to some allegations — not enough to satisfy the committee lawyers, according to people familiar with those talks who were not authorized to be quoted by name.

If the talks are not successful, trial proceedings for the Harlem congressman would begin Thursday with a reading of alleged ethics violations that are still confidential.

An equally divided, eight-member subcommittee led by Lofgren would then conduct the actual trial later and decide whether the charges are proved by clear and convincing evidence.

The members are separate from the four-member investigative panel that charged Rangel, the former Ways and Means Committee chairman, with multiple violations connected to his fundraising, financial disclosure and failure to pay taxes on income from a resort unit.

If the case ends with either a plea bargain or a finding of guilt, the ethics committee would make a decision on punishment that could range from a critical report, to a censure by the House or an expulsion vote.

In previous cases, the only matter to go through a trial was the case of former Rep. Jim Traficant of Ohio, who was expelled by a 420-1 vote in 2002. He went to prison after his conviction for racketeering and bribery.

Some Democrats have called for Rangel to resign. Others have returned money he raised for them. Many Democrats are worried that they'll be responding to negative campaign ads about Rangel if a trial gets under way in September.
 

Lonecowboy

Well-known member
and this one:

The Obama administration's rapid release of 10 Russian intelligence officers removed the prospect of a public trial revealing embarrassing facts about Russian influence operations, like the targeting of a key Democratic Party financier
 

Mike

Well-known member
The joke's on you. The gal that was the head of FINRA (in charge of Financial Institution Investigations and Regulations) is now the head of the SEC.

She still napping?
 
A

Anonymous

Guest
Don't know about the spy deal- as for what I've read about it they kind of sound like the "Apple Dumpling Gang" of spies...That most of the info they were looking for/got could have been obtained off the internet or reading the blogs.. And in return we got some long imprisoned folks who helped US intelligence (one who apparently was quite ill)- one of which we owed quite a bit for turning on his KGB and giving the info leading to the US spy Robert Hanssen ....
And Spy swaps have been going on between us and Russia (USSR) for decades...Remember Francis Gary Powers..

But it is nice to see the SEC and financial investigators going after some of these frauds and ponzi schemes (no matter who the crook is or whether he is a D or R) after so many years of no oversight/no enforcement.. Too bad they were on vacation during the years Madoff ripped off Billions $....
 

Texan

Well-known member
Oldtimer said:
Nice to see the SEC finally back to work after there 8 year vacation..
Actually, the SEC was quite busy for the years that you claim the "8 year vacation" or "8 year coffee break" that you have claimed in the past.

If you really like to read about SEC charges, there is plenty out there to find - all you have to do is look for it. And be honest, of course. (Maybe that's your problem?) Just as an example, here are some of the SEC charges from 2008 - the last year of the Bush Administration:

SEC charges 2008

It's been proven to you many times that what you are posting simply isn't true. But, you continue to post the same old lie - over and over and over. What does that tell us about you, Oldtimer?
 

Tam

Well-known member
Hey Oldtimer can you guess who is on coffee break now? hint charges against the Black Panthers :wink:
 
A

Anonymous

Guest
Mike said:
The joke's on you. The gal that was the head of FINRA (in charge of Financial Institution Investigations and Regulations) is now the head of the SEC.

She still napping?

Defiitely couldn't be any worse than Cox-- from the hearings it sounds like Cox (probably just carrying out GW's directive) was the ones stymying the investigations and didn't want to rock any elite folks boats...The investigators testified that they were totally frustrated as they ran into brick administrative walls ever direction they turned- which caused a big moral problem and turnover of personnel- which were never replaced (even tho it was budgeted ) to keep up with much more complex issues/workload the SEC was facing...
Congress has now given Ms Schapiro an even greater ability to beef up the agency-- and run these crooks down....
 

Mike

Well-known member
For the record: The Madoff scheme started in the 1980's but went downhill fast and was exposed after the Democrat takeover of Congress in 2007 that sent everything in the U.S. to hell in a handbasket.

The Democratic Congress sent the country on a downhill slide that even Madoff couldn't overcome.
 

Tam

Well-known member
Oldtimer said:
Mike said:
The joke's on you. The gal that was the head of FINRA (in charge of Financial Institution Investigations and Regulations) is now the head of the SEC.

She still napping?

Defiitely couldn't be any worse than Cox-- from the hearings it sounds like Cox (probably just carrying out GW's directive) was the ones stymying the investigations and didn't want to rock any elite folks boats...The investigators testified that they were totally frustrated as they ran into brick administrative walls ever direction they turned- which caused a big moral problem and turnover of personnel- which were never replaced (even tho it was budgeted ) to keep up with much more complex issues/workload the SEC was facing...
Congress has now given Ms Schapiro an even greater ability to beef up the agency-- and run these crooks down....

SEC Says New FinReg Law Exempts It From Public Disclosure
07/28/10 | Dunstan Prial

Under a little-noticed provision of the recently passed financial-reform legislation, the Securities and Exchange Commission no longer has to comply with virtually all requests for information releases from the public, including those filed under the Freedom of Information Act.

The law, signed last week by President Obama, exempts the SEC from disclosing records or information derived from "surveillance, risk assessments, or other regulatory and oversight activities." Given that the SEC is a regulatory body, the provision covers almost every action by the agency, lawyers say. Congress and federal agencies can request information, but the public cannot.

That argument comes despite the President saying that one of the cornerstones of the sweeping new legislation was more transparent financial markets. Indeed, in touting the new law, Obama specifically said it would “increase transparency in financial dealings."

Looks to me as if you will never know whether or not they are still on coffee break thanks to Obama. :wink:
 
A

Anonymous

Guest
The law, signed last week by President Obama, exempts the SEC from disclosing records or information derived from "surveillance, risk assessments, or other regulatory and oversight activities." Given that the SEC is a regulatory body, the provision covers almost every action by the agency, lawyers say. Congress and federal agencies can request information, but the public cannot.

Looks to me like they finally got the same investigative restrictions that all policing agencies have... You can't have crooks being allowed to do a FOIA to find out they are being wiretapped under court order, surveilled, or under investigation- and access to investigative reports before indictments are handed down ...
 

Mike

Well-known member
:roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll: :roll:
 
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